Tom Parker, the King's enigmatic, cigar- chomping manager and Svengali. Court records show that Parker represented Elvis in return for an unheard-of 50 percent of the singer's income. ... It is a deal that severed the Presley estate from the royalties for more than 700 songs and put $2.6 million in the colonel's pocket.

Did Colonel Parker steal money from Elvis?

In 1980, Tual estimated that Parker had defrauded the Presley estate of an estimated $7 million to $8 million in just the three preceding years.

Did Colonel Tom Parker take advantage of Elvis?

Parker supported Elvis so much that he negotiated the best contracts for him. Not until everything was exploited to Elvis' advantage, was the deal good enough. This made Elvis one of the few artists who enjoyed full artistic freedom in his record contract – and that from the very beginning on.